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Tuesday, 22 March 2016

SMART RECOVERY!!! NIFTY SETTLES ABOVE 7700

“BUY TATASTEEL ABOVE 309 TGT 312/320 SL 300”

The BSE Sensex and NSE Nifty were trading
in red in afternoon trade as investors opted to book some of their profits
after two days of rally. The BSE Sensex opened at 25331 touched an intra-day
high of 24372 and low of 25084. Nifty
closed with a gain of 11 points at 7715. Buying in the last half hour of trade
in realty, auto, metal, consumer durables and capital goods supported benchmark
indices on Tuesday amid volatility. On the global front, China's Shanghai
Composite index closed down 0.60% and Hang Seng ends marginally lower. Shares of
Reliance Power gained over 2 per cent after the government announced the
increase in mining capacity of the company's Sasan project to 17.2 mt. Shares
of Bharti Airtel fall over 1 %after the company signed a deal with American Tower
Corporation (ATC) to sell 1350 of its towers in Tanzania for roughly $180
millionexplosions in Belgium capital of Brussels will only have a
sentimental impact on global markets because markets are currently more focused
on central bank actions and flash PMI numbers from the euro zone, which were in
line with expectations, says Manish Singh of Crossbridge Capital LLP. Mahindra
& Mahindra rose 2 percent after its agri business started selling branded
dairy products - Saboro in Madhya Pradesh. The Foreign Investment Promotion
Board (FIPB) has approved the proposal of YES Bank to increase its foreign
investment limit to 74 per cent from present 41 per cent, making
it the first bank to get approval for hiking FDI limit after the new
regulations were announced in the last year. In November 2015, the government
had removed sub-limit restrictions for foreign investments in private sector
banks within the overall sectoral limit of 74 per cent. YES Bank shares
were trading 0.16 per cent up at Rs 832.

TOP GAINERS: BHEL, Hero MotoCorp, Tata
Steel and Hindalo were among while